Updated from 6:52 a.m. EDT
Here are 10 things you should know for Thursday, May 29:
1. -- U.S. stock futures were pointing to modest gains on Wall Street Thursday as global stocks mostly fell ahead of data on U.S. economic growth.
European stocks traded mixed. Japanese shares bucked the losing trend in Asia and rose 0.1%.
2. -- The economic calendar in the U.S. on Thursday includes weekly initial jobless claims at 8:30 a.m. EDT, the second estimate of first-quarter gross domestic product at 8:30 a.m., and pending home sales for April at 10 a.m.
3. -- U.S. stocks on Wednesday settled lower on Wednesday following Tuesday's record close for the S&P 500.
The Dow Jones Industrial Average fell 0.25% to 16,633.18, while the S&P 500 lost 0.11% to close at 1,909.78. The Nasdaq slid 0.28% to 4,225.08.
4. -- Apple (AAPL) agreed to buy Beats Electronics for $3 billion, as the tech giant makes a historic purchase, bringing another major brand under its umbrella.
The purchase will include Beats Music and Beats Electronics, which makes the popular Beats headphones, speakers and audio software. As part of the deal, Apple is paying $2.6 billion in cash, and about $400 million in equity that will vest over time.
Beats executive Jimmy Iovine and Beats co-founder Dr. Dre will join Apple.
Apple shares rose 0.3% in premarket trading on Thursday to $625.84.
5. -- Raymond DeGiorgio, an engineer at General Motors (GM) who is at the center of accusations that the company covered up a deadly defect, appeared distraught during lengthy questioning by congressional investigators, according to people familiar with the session, The New York Times reported.